Construction began this week on Trail Side on Mass Ave,
a four-story apartment and retail project by Riley Area Development Corp and Monument Realty. The $10-million project will
feature 11,000 square feet of retail space on the first floor, and 69 one-bedroom apartments on the upper floors, along with
an underground parking garage. Funding came from multiple sources including Housing and Urban Development, Indianapolis Housing
Agency, Indiana Housing and Community Development Authority, National Bank of Indianapolis, Indianapolis Neighborhood Housing
Partnership, Local Initiatives Support Corporation and Alliant Capital. The architect is A2SO4. The project is slated for
completion by the spring of 2012. An earlier rendering of the project is available here. What do you think?
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Welcome to Property Lines, Indy's source for neighborhood real estate news. Your host is Scott Olson, IBJ's real estate beat
reporter. Edited by Cory Schouten.
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In my opinion the estridge companies are crooks. They filed bankruptcy on their 'track housing' side of the business two weeks before they closed on one of my clients' homes. When my client first interviewed Estridge as a builder 6 months before, they specifically ASKED about the solvency of their business, knowing that some builders were struggling. Estridge truly misrepresented their financial situation at that time. I suppose I am more unhappy with the whole system than I am with the builder because what the heck==you can file bankruptcy on 'track homes' but still keep building and make money off of 'custom built' homes??? How ridiculous! They are all homes. How can a company be allowed to bilk thousands of dollars from their subcontractors but still be allowed to build houses?? they should have been made to pay back all their unpaid contractors before being allowed to profit from building any more houses! This alone makes them and the system crooks in my eyes. I would never build an estridge home and I would not recommend for my clients either. If they were truly 'bankrupt' how could they afford to keep building homes anyway??? The whole system needs fixed.
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I live a couple blocks east of the Angie's campus and my house is assessed for ~$160,000. If I could get that amount, let alone $384,000 (a 140% bonus), I'd sell in a minute. Either Angie's stockholders just got fleeced, or Angie's is getting about a 58% discount on their property taxes, if these properties are actually worth what they paid Mr. Oesterle for them. Which do you think is the case?
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Perhaps the IMA board is really to blame! They agreed to hire Charles. They can't seemingly find donors among themselves, or bring in new blood that will support the museums operating budget with an expanded museum and money to provide curators with something to do (ie buy art). The headlines of disarray at the museum and mass firings are hurting the reputation of the museum for some time to come. If people on the board had misgivings, perhaps they shpuld have more forcefully opposed efforts that they have seemingly been unable to fund, like expansion and the costs it has created!
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See, I told u Indyman and Dipsicle....this 8 days is overkill. It's barely worth a weekend....great job Tony George! Your dream has been fulfilled....he fans want the I r l back. Thats how good it was.....and that sucked.
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I have been in training for a short time now but right off I can see that safety and quality are the number one issues, my experience as of late has been a positive one, the employees along with Jeff the plant manager and the operation supervisor as well as the engineers are a highly motivated group of people, what an asset for the area to have and for company's in need of a quality metal products.
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Hopefully we see more great community projects like these and NOT North of South.
However I don't get the need for creating more low income housing in this area. The Barton towers are just next door and there are already so many low income or even no income people in Downtown. Sorry, but there are people with quite a bit of income that cannot afford to live on Mass Avenue. Why should subsidized housing be on the best spot in town? How about building some low income housing in Carmel or Fishers?
There are affordable housing projects in both Carmel in Fishers. The reason it seems like there are so many more in Indianapolis is due to our size and need......roughing 850,000 in Indianapolis, 60,000 in Fishers.
Not to mention this is a mixed use building unlike Barton Towers. This will have both lower income and market rate apartments.
Well managed, these can be an asset and not a bad thing. it takes all economic types to make a neighborhood truly diverse. And hopefully these apartments can give lower income folks the chance to better themselves.
Regarding Section 42, this simply means that the people making your coffee, selling you jewelry and mixing your cocktails when you shop Mass Ave get to live close to work. Don't read too much into it. We've all been there ourselves at some point.
MDB, what are you talking about..."stucco"...too many people use stucco around here to get by cheap...nice texture developed by using the siding I think works great with the context.
The income restriction rules for Trailside seem very appropriate - and this program is not uncommonly used. Mass Ave and downtown should be an incubator for talented professionals who are earning less while in school, starting at a new job, or are self-emplyed (including the arts) and will experience some intial lean years.
Considering the general rule that final products are less attractive than their renderings, my early reaction is this building will be drab and certainly not in the running for any Excellence in Affordable Housing Design award. Maybe it is the siding. A change in siding color from grey might help (and would add $0 to the price). Maybe interesting windows would help - at least ones that don't look like the sliding plexiglass door to my backyard. I don't know, it doesn't need to be award-winning (though I'm not against trying), but this project seems so close to being "really nice," but settles for "mmm . . . okay."